In annual terms Imports of raw materials plummeted by 38.1%. Imports of raw materials fell 11.3%, industrial output fell 0.9%
The Central Bureau of Statistics issued a press release last week showing that
export of goods fell by 6.4% in November 2008-January 2009, in annual terms, excluding diamonds, ships, and planes exports of goods fell 23.3% in the three months period November -to-January 2009.
Imports of raw materials fell 11.3%, industrial output fell 0.9%, and trade and services proceeds fell 8.4%.
In annual terms Imports of raw materials plummeted by 38.1%. The CBS noted that the downward trend that started in the middle of 2008 is continuing in almost all market sectors.
The fall in exports of goods was similar, 22.4%, in August-September period. The employment and growth numbers certainly reflect the drop in exports. Industrial exports fell at a similar pace in November-January, by 23.6%.